30Jul14

Fitch downgrades ratings of 13 foreign-owned Russian banks

Fitch Ratings has downgraded the long-term Issuer Default Ratings (IDRs) of 13
Russian banks with foreign stakes to BBB from BBB+ with a negative outlook, the
international rating agency said on Wednesday.

"The downgrade of the banks' IDRs and debt ratings follows the downgrade of
Russia's country ceiling to BBB from BBB+," the rating agency said in a
statement.

[Source: Itar Tass, Moscow, 30Jul14]

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